Recent Analysts’ Ratings Updates for NOV (NOV)

NOV (NYSE: NOV) has recently received a number of price target changes and ratings updates:

• 11/4/2024 – NOV had its price target lowered by analysts at Wells Fargo & Company from $16.00 to $15.00. They now have an “underweight” rating on the stock.
• 10/29/2024 – NOV had its price target lowered by analysts at Barclays PLC from $17.00 to $16.00. They now have an “underweight” rating on the stock.
• 10/28/2024 – NOV had its price target lowered by analysts at Susquehanna from $22.00 to $21.00. They now have a “positive” rating on the stock.
• 10/28/2024 – NOV had its price target lowered by analysts at Stifel Nicolaus from $25.00 to $24.00. They now have a “buy” rating on the stock.
• 10/28/2024 – NOV had its price target lowered by analysts at TD Cowen from $28.00 to $22.00. They now have a “buy” rating on the stock.
• 10/16/2024 – NOV had its price target lowered by analysts at Barclays PLC from $20.00 to $17.00. They now have an “underweight” rating on the stock.
• 10/14/2024 – NOV had its price target lowered by analysts at Bank of America Co. from $22.00 to $20.00. They now have a “buy” rating on the stock.
• 10/11/2024 – NOV had its price target lowered by analysts at Susquehanna from $26.00 to $22.00. They now have a “positive” rating on the stock.
• 10/11/2024 – NOV had its price target lowered by analysts at Stifel Nicolaus from $26.00 to $25.00. They now have a “buy” rating on the stock.
• 10/10/2024 – NOV had its price target lowered by analysts at BMO Capital Markets from $22.00 to $20.00. They now have a “market perform” rating on the stock.
• 10/3/2024 – NOV had its price target lowered by analysts at JPMorgan Chase & Co. from $23.00 to $22.00. They now have an “overweight” rating on the stock.
• 10/3/2024 – NOV had its price target lowered by analysts at Citigroup Inc. from $24.00 to $21.00. They now have a “buy” rating on the stock.
• 9/25/2024 – NOV was downgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating. They now have a $16.00 price target on the stock, down previously from $20.00.
• 9/16/2024 – NOV had its price target lowered by analysts at Morgan Stanley from $25.00 to $23.00. They now have an “overweight” rating on the stock.

NOV Stock Performance

Shares of NOV stock opened at $15.39 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The firm has a market cap of $5.99 billion, a P/E ratio of 5.68, a P/E/G ratio of 0.89 and a beta of 1.66. The firm has a 50 day simple moving average of $16.26 and a 200 day simple moving average of $17.68. NOV Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $21.23.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.95%. NOV’s dividend payout ratio is 11.07%.

Hedge Funds Weigh In On NOV

A number of hedge funds and other institutional investors have recently made changes to their positions in NOV. Boston Partners bought a new position in shares of NOV during the first quarter worth $119,686,000. Bank of New York Mellon Corp boosted its position in shares of NOV by 67.2% during the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after purchasing an additional 3,989,095 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of NOV by 40.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after purchasing an additional 3,470,860 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of NOV by 232.6% during the second quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock worth $92,938,000 after purchasing an additional 3,418,885 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in NOV by 1,194.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after acquiring an additional 1,574,188 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.